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Coinbase Commerce adds DAI as payment option

Yilun Cheng

Coinbase Commerce has integrated DAI as a payment option for its merchant customer base.

According to Coinbase’s press statement, merchants on the Coinbase Commerce platform now have the option to accept payments in DAI. They can use the platform dashboard to link their stores to a Coinbase Commerce checkout or do it in-person using the point-of-sale interface. Merchants do not need to pay any fees to use Coinbase Commerce.

“This integration opens some of the web’s biggest shops, including those on Shopify and WooCommerce, to Decentralized Finance (DeFi) users and others who want to transact securely using a decentralized stablecoin as a payment method,” the company said. “In turn, it introduces merchants to a growing segment of the cryptocurrency market, allowing them to bridge the gap between DeFi dapp entrepreneurs and their own “real world” businesses.”

Coinbase first listed DAI in May 2019 to allow users to buy, sell, convert, send, receive, or store DAI on its crypto exchange.

With DAI now being a payment option on Coinbase Commerce, the token has become the second stablecoin supported by the platform besides USDC.